Mr. Higgins brings three decades of financial services leadership experience to Velox, most recently serving as Head of Operations at LPL Financial (“LPL”). In this position, he oversaw all areas of the firm’s operations while mitigating risk, increasing efficiency, and working to continuously improve the client experience. At LPL, he was also Senior Vice President of Operational Risk Management, where he was responsible for the development and implementation of a risk culture and mitigation methodology throughout the firm’s operational and service organizations. His career to date also encompasses senior-level positions at AXA Equitable, Bank of New York, Pershing, and Charles Schwab.

“The clearing
sector is ripe for innovation, and I’m thrilled to be joining an outstanding
team that is at the forefront of this movement,”
said Higgins. “My industry experience to date has instilled a deep
understanding of the challenges and opportunities our clients face, and I look
forward to helping Velox and its’ clients successfully navigate a rapidly evolving
landscape to achieve growth.”

Michael Higgins as the New Chief Executive Officer of Velox Clearing

In his new role, Mr. Higgins will leverage his broad expertise in brokerage operations, product development, sales, and risk mitigation to drive strategic direction and support Velox’s business development initiatives.

Mr. Higgins earned his Bachelor of Science in
Business Management from St. John’s University; he also holds FINRA Series 4,
7, 8, 24, 53, 63 and 65 licenses.

David Herron, former CEO of the Chicago Stock
Exchange, and a member of Velox’s board of directors, added: “We are
delighted to welcome an executive of Michael’s caliber to the Velox team. Under
his expert leadership, we are confident that Velox will continue to deliver
exceptional value and differentiated service to clients.”

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